Vector Interim Report 2020
Chair and Group Chief Executive report
Through ongoing investment in our networks and energy solutions, strengthening our partnerships with some of the world’s best energy innovators and problem solvers, and by providing greater choice and control to our customers, we are enabling the accelerating change around us.”
Progress towards a new energy future
The six months to 31 December 2019 saw continued progress with Vector’s vision of creating a new energy future. The Group continued to rise to the key challenges of investment to support Auckland’s rapid growth, while also advancing new energy systems and solutions to meet customers’ ever- changing energy demands. Vector remains committed to its leadership role in preparing our customers, their communities and the wider industry for the future of energy. Our customers continue to tell us that they want safe, reliable and affordable energy systems that empower them with choice and control. These expectations are set to strengthen further, as more people adopt electric vehicles, and more homes and businesses choose to harness the power of solar, batteries and other energy technologies. These trends show no signs of slowing down locally or globally, and we have a responsibility to ensure our energy systems remain stable and robust, yet flexible enough to evolve in concert with changing customer behaviours. Vector’s focus is to continue executing on our strategy, which has two key elements. The first is to optimise our core electricity and gas distribution networks – the foundation of our business – by making them truly intelligent. Our traditional network assets will continue to play a key role, while becoming increasingly integrated with digital and consumer assets. This convergence allows us to more efficiently manage loads and smooth out demand curves, and adapt more quickly to changing network dynamics. It also means we can deliver for customers without investing so much in continuing to build more and more infrastructure that runs the risk of future redundancy, as advancing technology drives energy efficiency and alternatives beyond what’s possible today.
― 2
Made with FlippingBook Publishing Software